Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity markets extended gains on Wednesday to settle on a positive note for the fourth consecutive session, led by Auto, Realty, Metal and power stocks. While BSE Sensex ended 533.15 points or 0.88% higher at 61,150.04, NSE Nifty50 settled 156.50 points or 0.87% up at 18,212.30. Sectorally, Metal, Power, Auto, Oil & Gas and Realty gained 1-2 percent, while IT and Pharma indices ended flat. In broader markets, BSE midcap and smallcap indices ended 0.7-1 percent higher. M&M, Bharti Airtel, Reliance Industries, IndusInd Bank and ONGC were the top Nifty gainers. On the other hand, Titan Company, TCS, Shree Cements, Britannia Industries and Cipla were the laggards.
Shares of Tata Consultancy Services (TCS), WIPRO and Infosys remained in focus today as all three of India’s top Infomation Technology services companies will announce their third-quarter results on the same day for the first time. TCS, Infosys and Wipro are expected to report strong numbers on Wednesday led by robust client demand, according to analysts. Ahead of Q3 earnings announcements by the IT heavyweights, heavy buying was seen in IT stocks on Tuesday.
Indian equity markets extend gains on Wednesday to settle on a positive note for the fourth straight session. While BSE Sensex ended 533.15 points or 0.88% higher at 61,150.04, NSE Nifty50 settled 156.50 points or 0.87% up at 18,212.30. Sectorally, Metal, Power, Auto, Oil & Gas and Realty gained 1-2 percent, while IT and Pharma indices ended flat. In broader markets, BSE midcap and smallcap indices ended 0.7-1 percent higher.
Shares of Avenue Supermarts Ltd. dipped 5.02% to Rs 4280.0 on Wednesday, even as BSE benchmark Sensex gained over 400 points and reclaimed 61,000. The scrip had closed at Rs 4,506.2 in the previous session. Avenue Supermarts stock quoted a 52-week high and 52-week low of Rs 5899.9 and Rs 2610.8, respectively.
Rakesh Jhunjhunwala has exited specialty retail chain The Mandhana Retail Ventures in the December 2021 quarter, the latest shareholding data suggested. At the end of the September 2021 quarter, Rakesh Jhunjhunwala held 16.30 lakh shares or 7.4 per cent stake in the firm. However, Rakesh Jhunjhunwala’s name didn’t appear in the list released by the company on BSE. It may be noted that companies don’t need to report the names of shareholders holding less than one per cent stake in the company. Trendlyne data shows Rakesh Jhunjhunwala’s holding in The Mandhana Retail Ventures as ‘below 1%’ as of 31st December 2021.
“Both residential and commercial asset classes have scripted a turnaround story in the second half of the year 2021. The guidance on the performance of the real estate assets for the year 2022 is expected to mark an uptrend. Most cities in India have witnessed better equilibrium dynamics in demand-supply economics of real estate with sales numbers being in-line with the number of home unit launches. The year 2022 is expected to set a new benchmark where all the stakeholders of the real estate industry will collaborate to harness latent demand for homes. Institutional investors are actively looking at investment opportunities across the capital stack on both the equity and debt side. It's encouraging to see that premium rebate in Maharashtra resulted in receiving a record sum of over Rs 11,000 crore. The deal street of the Indian real estate is expected to be active both on value and volume aspects. With macro fundamentals in check for the realty estate industry will keep the index on the upward trend in the medium to long term,” said Dhaval Ajmera, Director of Ajmera Realty and Infra India.
India is pushing for a valuation of about 15 trillion rupees ($203 billion) for a state-owned insurer that’s soon expected to file for the nation’s biggest initial public offering, even as arrangers awaited a final report on the firm’s estimated worth. The so-called embedded value of Life Insurance Corp. of India is likely to be more than 4 trillion rupees, and its market value could be about four times that amount. Once the final report is in, the valuation the government is seeking could change, reported Bloomberg on Wednesday.
A total of 568 stocks hit 52-week high on the Bombay Stock Exchange (BSE), while seven scrips including Paytm touched fresh lows. Affle, DB Realty, JBM Auto, Apollo Finvest, BCL Industries, EKI Energy, Pidilite, Larsen and Toubro, Gujarat Fluorochemicals Ltd, Rategain Travel Technologies, Sindhu Trade Links, SRF Ltd, Tata Communications, Thermax and Zee Media were among the stocks that hit 52-week high on BSE. Meanwhile, Aroma Enterprises, Ascensive Educare Ltd, Garodia Chemicals, Lerthai Finance, Mena Mani Industries, One 97 Communications Ltd (Paytm) and VR Woodart Ltd were the scrips that touched 52-week lows.
BSE Sensex is likely to reclaim its previous high of 62,000 and Nifty 50 may rise to 18,400 ahead of the Union Budget 2022, said Sanjiv Bhasin, Director, IIFL Securities, in an interview with Surbhi Jain of Financial Express Online. Bhasin also expects Nifty to rally 22 per cent from current levels to a new all-time high of 22000 by April 2022. He sees an upside of over 7 per cent in BSE Sensex, and expects it to hit 65000 by early May this year on higher earnings. Moreover, amid COVID booster shots and antiviral drugs developments, Bhasin believes that pharma stocks may deliver good quarter results and suggests investors to stay partially invested in pharmaceutical stocks.
State Bank of India’s share price could be in for a strong rally led by strong earnings and improving balance sheet, analysts at domestic brokerage firm Motilal Oswal said. “SBI appears well-positioned to report a strong earnings uptick, led by moderation in credit costs, as the bank has strengthened its balance sheet and increased its PCR to ~88%,” analysts at Motilal Oswal said in a note. State Bank of India is the country’s largest public-sector lender. SBI’s share price has zoomed more than 13% since the end of December to date. The pinned target price of Rs 675 apiece implies another 32% upside potential.
“In the year 2022, the real estate market's deal street is projected to be strong even further. The various initiatives by the state & central government are keeping the residential asset class in favour. This has revived the residential sector leading to an uptrend at many levels. Despite the fact that the markets were trembling the realty index held up well in the midweek trading. The realty index is likely to maintain its rising momentum even further,” said Rohit Poddar, Managing Director, Poddar Housing and Development.
Bajaj Finance share price rose 2 percent intraday to Rs 7,869.90 on Wednesday after the non-banking finance company said its board will consider a fundraising plan in its meeting scheduled next week on January 18. The board will also consider the unaudited financial results for the quarter and nine months ended December 31, 2021.
After a strong rally in 2021, prices of steel and aluminum across the globe have softened on weak macro and demand concerns in China, forcing analysts at Jefferies to lower their optimism on India’s metal sector. “We lower our optimism on India metals as we enter 2022. Weak macro and demand concerns in China are weighing on metal prices,” a report by Jefferies said. The brokerage firm added that easing policy could lift demand in China but they added that the risk-reward is much lower than a year ago. Tata Steel has been downgraded to ‘Hold’ from ‘Buy’ and JSW Steel has been cut to ‘Underperform’ from ‘Buy’.
Shares of Adani Power jumped 5% in early trade today after the company approved the appointment of Shersingh B Khyalia as the company's chief executive officer (CEO) with effect from January 11, 2022.
After plummeting over 21% on Tuesday, shares of Vodafone Idea regained some ground on Wednesday as the stock gained 8% in early trade, climbing to a high of Rs 12.80 on the National Stock Exchange (NSE). It was last trading 7% higher. The price action the previous day may have been a knee-jerk reaction to government taking over a majority stake in the telecom major, according to analysts.
Benchmark indices were trading higher with Nifty above 18100 and Sensex around 61000. The Sensex was up 373.83 points or 0.62% at 60990.72, and the Nifty was up 103.55 points or 0.57% at 18159.30.
The list of stocks banned from trading in the F&O segment increased to four after Vodafone Idea, which plunged 20.5% in previous session, joined the ban list on January 12. Indiabulls Housing Finance, RBL Bank and Delta Corp continue to be on NSE's F&O ban list. Derivative contracts in these four securities crossed 95 percent of the market wide position limit and hence they are put under ban, the NSE said. During the F&O ban, traders are not allowed to take fresh positions in stocks under the ban, but they can start reducing their positions.
Crude oil soared nearly 4% on Tuesday, supported by tight supply and expectations that rising coronavirus cases and the spread of the Omicron variant will not derail a global demand recovery. Brent crude gained $2.85, or 3.5 percent, to $83.72 a barrel, its highest settlement since early November. The global benchmark dropped 1 percent on Monday. US West Texas Intermediate (WTI) rose $2.99, or 3.8 percent, to end at $81.22, also its highest price since mid-November, reported Reuters.
Hindalco, IndusInd Bank, SBI, Reliance Industries and Kotak Mahindra Bank are top Nifty gainers, all up over 1%. Meanwhile, Titan, TCS, Cipla, HCL Technologies and UPL are the laggards.
All the sectoral indices are trading in the green with Metal and Realty indices up 1% each. In broader markets, BSE midcap and smallcap indices are also trading higher.
Life Insurance Corporation of India could file a prospectus in the final week of January for what would be the nation’s biggest initial public offering. The state-run insurer plans to file the draft IPO prospectus in the week starting Jan. 31, which will provide the embedded value of LIC as well as the number of shares on offer, the people said, asking not to be identified as the deliberations are private. The ongoing virus wave may disrupt schedules, according to a Bloomberg report.
Nifty bank climed 325 points, or 0.85% to 38,767.75. Nifty Midcap also surged 0.62% to 8,709 on Wednesday.
Infosys share price rose ahead of Oct-Dec quarter earnings today. The scrip was trading at Rs 1866, up 0.55% on the Bombay Stock Exchange (BSE).
Shares of homegrown IT giant Wirp fell 0.5% on Wednesday ahead of company's Q3FY22 results. The scrip was trading at Rs 649.50 on BSE.
Tata Consultancy Services share price was the top Sensex laggard, falling nearly one per cent, ahead of Oct-Dec quarter earnings today
Ultratech Cement, Reliance industries Ltd (RIL), Bharti Airtel were among top BSE Sensex gainers.
Indian benchmark indices opened on a positive note amid strong global cues on Wendesday. Sensex was up 380.57 points or 0.63% at 60997.46, and the Nifty was up 111 points or 0.61% at 18166.80. Hindalco Industries, JSW Steel, Coal India, Tata Steel and Sun Pharma were among major gainers in the Nifty pack. In the broader market, the BSE MidCap and SmallCap indices were up 0.4 and 0.6 per cent, respectively. All sectoral indices were trading in positive territory, with highest gains in metals and realty stocks.
The benchmark indices were positive in the pre-open trade on Wednesday amid strong global sentiment. The BSE Sensex was up 443 points at 61,060, while the NSE Nifty was 110 points higher at 18,166.
Indian markets are likely to open gap up tracking strong global cues after Federal Reserve Chair Jerome Powell reassured investors that the central bank will tackle inflation to extend the economic expansion. US markets ended higher tracking gains across technology stocks amid positive news inflows, said ICICI Drect.
Benchmark Indices are expected to open on a positive note as suggested by trends on SGX Nifty. Both European and US markets closed in green. Asian markets are giving strong positive signals. Stupendous earning season outlook along with positive expectations from annual budget is driving the markets despite the exponential rise in covid cases in the country. On the technical front, the key resistance levels for Nifty50 are 18100 followed by 18150 and on the downside 17990 followed by 17920 can act as strong support. Key resistance and support levels for Bank Nifty are 38620 and 38150 respectively, said Mohit Nigam, Head – PMS, Hem Securities.
Bulls continued the positive momentum for the third day in a row, the Nifty 50 index ended 52 points higher while the BSE Sensex gained 221 points. On the sectoral front, strong buying interest was seen in Energy, IT, and Reality stocks while metal stocks witnessed technical selloff. Technically, the Nifty is consistently forming a higher bottom and higher top formation which suggests a further uptrend. The texture of the market is bullish but one quick intraday correction is possible if the index succeeds to trade below 18000.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices remained unchanged on January 12 across the country. Petrol rate in the National Capital of Delhi stands at Rs 95.41 per litre while diesel in the capital is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel is retailing at Rs 109.98 and Rs 94.14, respectively. Fuel prices have been stable since the central government cut excise duty to bring down retail rates from record highs. Public sector oil marketing companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
Infosys is likely to post up to 4 per cent revenue growth in constant currency terms in the October-December quarter of FY22, said analysts. The company will announce its quarterly results along with TCS, and Wipro today. Motilal Oswal Financial Services expects a strong revenue growth with some seasonality impact, led by a ramp up in large deals (Daimler deal ramp-up for one month). It also expects the momentum in large deal wins to continue.
Domestic equity market benchmarks BSE Sensex and Nifty 50 were set to open higher on Wednesday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 125 points or 0.7 per cent up at 18216 on Singaporean Exchange. In the previous session, bulls managed to sustain grip on Dalal Street and ended the volatile session in green for the third straight day. BSE Sensex closed 221 points or 0.37 per cent higher at 60,617, while Nifty 50 settled at 18,056 levels, up 52.45 points or 0.29 per cent. Chartists say that the upside movement continued in the market after a small dip and the strength of upside momentum seems to be back in the market.
Federal Reserve Chair Jerome Powell, in a congressional hearing on Tuesday said the U.S. central bank, was determined to ensure high inflation did not become “entrenched.” But he added that rather than diminishing job growth, the Fed’s tightening plans which include higher interest rates and a reduction in its asset holdings were necessary to maintain the economic expansion.
TCS board will release third quarter, and nine months ended 31 December 2021 results on Wednesday. The board will also consider the third interim dividend. The IT bellwether has fixed 20 January 2022, as the record date for the dividend. Analysts say that third quarter is typically a seasonally weak quarter for IT companies due to furloughs and lower working days, and they expect all companies to report robust on-quarter revenue performance, led by need for faster digital transformation, faster revenue conversion and positively biased pricing
All three main U.S. stock indexes gained ground on Tuesday as investors were relieved that Federal Reserve Chair Jerome Powell's testimony to Congress did not include any major surprises. The Dow Jones Industrial Average rose 0.51%, S&P 500 0.92%, and the Nasdaq Composite 1.41%. Asian stocks followed the rebound in the U.S. markets. Shares in Japan and Hong Kong led gains throughout the region. U.S. futures fluctuated after the S&P 500 halted a five-day slide and the Nasdaq 100 outperformed. Chinese shares opened higher after inflation came in lower than expected.
Wipro share price gained over half a per cent to Rs 698.50 apiece on Tuesday, a day before October-December quarter earnings release. Even as the stock has fallen nearly 3 per cent in the last five days and 3.24 per cent so far this year, it has delivered returns of 8 per cent in the last one month and 32.25 per cent in six months. Wipro is likely to post up to 5 per cent revenue growth in constant currency terms in October-December quarter of FY22.
Domestic equity markets continued to march higher although the pace of the up-move has slowed down. S&P BSE Sensex ended Tuesday session 221 points or 0.37% higher at 60,616 while the broader NSE Nifty 50 settled at 18,055, gaining 0.29%. Entering Wednesday’s session, SGX Nifty was up more than 100 points hinting at a positive start for Dalal Street. Cues from global peers were positive after Dow Jones, S&P 500, and NASDAQ closed with gains and Asian markets mirrored the up-move.
Trends on SGX Nifty indicated at a positive start for benchmark indices in India. With a gain of 111 points or 0.61 percent, the Nifty futures were trading around 18,202 level on the Singaporean Exchange.